Hong Kong bakery chain Taipan Bread & Cakes closed down all its stores on Tuesday after more than four decades in business, citing “unforeseeable and irresistible” factors.

The bakery, renowned for its signature ice-skin mooncakes, had been mired in financial difficulties for months, with several of its outlets unable to pay rent and staff salaries on time.

Notices announcing the chain’s abrupt closure went up on shuttered shops in some of the city’s key locations, including Mong Kok, Kwai Chung and North Point.

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The shutdown follows recent reports of the bakery having rental disputes and alleged wage arrears. The Hotels, Food and Beverage Employees Association said it has received requests for help from 10 Taipan employees who claimed they have yet to be paid for last month.

“Some of the employees claimed the company had failed to pay salaries on time months before May,” said Nerine Yip Lau-ching, general secretary of the association.

The Labour Department said it has also received complaints from Taipan’s employees and is offering assistance.

The department emphasized that employers must pay wages within seven days after the wage period ends. Investigations into potential violations of the Employment Ordinance are underway, with prosecution possible if there’s sufficient evidence, it said.

Taipan’s head office in San Po Kong also put up a closure notice, but no employees were present. The company apologized for the inconvenience caused and thanked customers and partners for their support over the years.

Taipan, founded by Kwok Hung-kwan, opened its first shop in 1984 and had over 30 branches at its peak.

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“The company had stopped paying its monthly rent of HK$90,000 ($11,538) in March. I had called them repeatedly, but nobody answered. I’m still unable to contact the management,” said a landlord of Tai Pan’s store in North Point.

“It’s heartbreaking seeing a shop that had been in business for 41 years shut down so abruptly,” said a resident near the North Point store, clutching some unused mooncake vouchers.

“I had always been a regular customer. Their ice-glazed mooncakes and bread were my favorites. I hope the shop will reopen one day.”

Adam Lam and Huang Yawen contributed to the story.